Note 19 - Stockholders' Equity

6 Months Ended

Jun. 30, 2019

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

19. Stockholders’ Equity

Total equity was $2.20 billion as of June 30, 2019, an increase of $77.4 million, from $2.12 billion as of December 31, 2018, primarily due to net income of $138.9 million, increases in other comprehensive income of $16.6 million, and proceeds from dividend reinvestment of $1.7 million, and partially offset by common stock cash dividends of $49.7 million and repurchases of the Company's common stock of $31.6 million.

Activity in accumulated other comprehensive income, net of tax, and reclassification out of accumulated other comprehensive income for the three months and six months ended June 30, 2019, and June 30, 2018, was as follows:

	Three months ended June 30, 2019									Three months ended June 30, 2018
	Pre-tax			Tax expense/ (benefit)			Net-of-tax			Pre-tax			Tax expense/ (benefit)			Net-of-tax
	(In thousands)
Beginning balance, loss, net of tax
Securities available-for-sale							$	(8,966	)							$	(21,333	)
Cash flow hedge derivatives								(1,465	)								427
Total							$	(10,431	)							$	(20,906	)
Net unrealized gains/(losses) arising during the period
Securities available-for-sale	$	15,865		$	4,690		$	11,175		$	(3,905	)	$	(1,154	)	$	(2,751	)
Cash flow hedge derivatives		(2,984	)		(882	)		(2,102	)		1,045			309			736
Total	$	12,881		$	3,808		$	9,073		$	(2,860	)	$	(845	)	$	(2,015	)
Total other comprehensive income/(loss)
Securities available-for-sale	$	15,865		$	4,690		$	11,175		$	(3,905	)	$	(1,154	)	$	(2,751	)
Cash flow hedge derivatives		(2,984	)		(882	)		(2,102	)		1,045			309			736
Total	$	12,881		$	3,808		$	9,073		$	(2,860	)	$	(845	)	$	(2,015	)
Ending balance, (loss)/gain, net of tax
Securities available-for-sale							$	2,209								$	(24,084	)
Cash flow hedge derivatives								(3,567	)								1,163
Total							$	(1,358	)							$	(22,921	)

	Six months ended June 30, 2019									Six months ended June 30, 2018
	Pre-tax			Tax expense/ (benefit)			Net-of-tax			Pre-tax			Tax expense/ (benefit)			Net-of-tax
	(In thousands)
Beginning balance, loss, net of tax
Securities available-for-sale							$	(17,765	)							$	(1,060	)
Cash flow hedge derivatives								(241	)								(1,451	)
Total							$	(18,006	)							$	(2,511	)
Reclassification adjustment for stranded tax effects of Tax Cuts and Jobs Act (1)
Securities available-for-sale	$	—		$	—		$	—		$	—		$	200		$	(200	)
Cash flow hedge derivatives		—			—			—			—			315			(315	)
Total	$	—		$	—		$	—		$	—		$	515		$	(515	)
Reclassification adjustment for equity securities (2)
Equity securities	$	—		$	—		$	—		$	(12,151	)	$	(3,592	)	$	(8,559	)
Net unrealized gains/(losses) arising during the period
Securities available-for-sale	$	28,356		$	8,382		$	19,974		$	(20,251	)	$	(5,986	)	$	(14,265	)
Cash flow hedge derivatives		(4,722	)		(1,396	)		(3,326	)		4,158			1,229			2,929
Total	$	23,634		$	6,986		$	16,648		$	(16,093	)	$	(4,757	)	$	(11,336	)
Total other comprehensive income/(loss)
Securities available-for-sale	$	28,356		$	8,382		$	19,974		$	(20,251	)	$	(5,986	)	$	(14,265	)
Cash flow hedge derivatives		(4,722	)		(1,396	)		(3,326	)		4,158			1,229			2,929
Total	$	23,634		$	6,986		$	16,648		$	(16,093	)	$	(4,757	)	$	(11,336	)
Ending balance, (loss)/gain, net of tax
Securities available-for-sale							$	2,209								$	(24,084	)
Cash flow hedge derivatives								(3,567	)								1,163
Total							$	(1,358	)							$	(22,921	)

(1) These amounts were recorded as of January 1, 2018 as a result of the adoption of ASU 2018-2.

(2) This amount was recorded as of January 1, 2018 as a result of the adoption of ASU 2016-1.